Indian bitcoin wallet provider Zebpay (Zeb Ventures Pte Ltd.) is said to be in talks to raise a $4-5 million Series B round.
According to reports, the company is talking to a number of Indian investors along with “a US-based venture capital fund which focuses on blockchain technology.”
Founded in 2012 originally as BuySellBitco.in, Zebpay offers a mobile Bitcoin wallet that allows users to buy and sell Bitcoin, store Bitcoin, along with the ability for those Bitcoins to be used to recharge mobile phone services and to buy eCommerce vouchers from sites such as Amazon, Flipkart, Makemytrip and more at a discount of up to 10 percent.
It differs itself from tradition bitcoin wallet providers by tying their wallets to mobile phone numbers, a move that is claimed to make payments more secure and easy to use.
The company has continued to grow and is now said to 130,000 users, up from 25,000 users in January and is adding 20,000 new users each month. In turns of volume, the company was reported to have passed the $10 million a month mark in September.
News that Zebpay is raising a